I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection.

Hey Nithin, one of my client's closes today on a next gen home that they plan on renting out the separate unit.

@Ryan Daniel  I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection in relation to real estate investments.

I would focus on homes with dysfunctional floor plans.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

If your doing an FHA and plan to stay in one side you have to figure out what that would benefit you.

She informed me that she & her sisters plan to take care of the rent so he still has the home when he gets out of the hospital. 

Excited to hear about your plans for 2025—let me know if you ever want to chat about the market or need any help finding deals!

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

@Matthew Posteraro That's a solid plan.